Market Stalkers Vol 3: Candlestick Workshop

Amazon.com Price: $9.99 (as of 03/01/2024 06:50 PST- Details)

Description

The first time I ever laid my eyes on a candlestick chart, it reminded me of a music sheet.

At the time I was still a touring session musician, 13 years ago. As the internet piracy made its impact on the music industry, the standard of gigs degraded as did our performer’s fees. I was looking for a career switch.

Fast forward 13 years later to find me as a successful prop trader specialised in energy and precious metals markets.

Candlestick patterns were the deciding factor in that success. They certainly weren’t the ONLY factor in finding my trading edge but without them, I wouldn’t be as consistent as I am.

There is a subtlety in candle patterns that I haven’t seen explained anywhere else. That subtlety is: what makes a strong pattern vs a weak one?

I am only referring to candlestick patterns – not candlestick chart patterns. The first kind tells you a lot about the intention of the market participants – systematic and statistical. The other is no different than ink stains in a psychiatrists’ office: wishful thinking and awfully discretionary.

In this book I explain my top candlestick patterns. I also show you how to learn to systematically recognise what makes a strong pattern.

These days I have mostly moved into creating mechanical trading systems. I use my experience of system design to back my observations. ‘Discretionary’ is not allowed in any of my methods to obtain a trade entry.

I lay out the patterns according to probability that I’ve tested over the last 11 years as a professional prop trader, backed by my algorithmic research on them.

If you’re struggling with consistency, the great thing about using the information in this book is that you can pair it up with any method you’re currently using.

My own approach involves use of market mechanics tools such as market profile, supply demand and yes: candlestick patterns.

For anyone who is even remotely serious about creating a new career and a great income stream from trading, I suggest you also get familiar with my other two books: Price Action Trading with Supply Demand as well as Day Trading for Income.

All three approaches work synchronously to give you an objective view of the market. Rather than relying on some mythical nonexistent Fin levels and awfully lagging indicators, I prefer to use market mechanics instead.

The easiest concept to grasp of the three is the proper use of candlestick patterns. This workshop is suitable for beginners and intermediate traders. It will provide you an additional insight into candle patterns and improve your decision making. If you’re ready to finally move forward with your trading skills, this is the place to start.

See you on the inside.

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